Title
Approval of an Ordinance Amending Ordinance 7086 (Capital Budget)
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve amending ordinance on second reading.
Report
Issue:
Whether to approve the amendment to Ordinance 7086.
Staff Contact:
Bill Sampson, Acting Fiscal Services Director, Administrative Services Department, 360.753.8473
Presenter(s):
Bill Sampson, Acting Fiscal Services Director
Background and Analysis:
Background and analysis has not changed from first to second reading.
To change the budget the Council must approve a new ordinance amending the budget. Generally, budgetary amendments are made quarterly. On occasion a budget change needs to be made between the quarterly updates and a separate ordinance will come before the Council. These ordinances do not officially amend the budget ordinance, but does provide authorization to expend funds. The attached ordinance reflects ordinances which may have been adopted relating to the budget since the last quarterly update, and other proposed changes to the budget.
No separate ordinances were passed since the adoption of ordinance 7086 relating to the Capital Budget.
Budget Items not previously presented to the Council:
1) Appropriation of $150,000 for Remediation or Development Efforts. Funding from sale of property at 815 SE 7th Avenue.
2) Appropriation of $60,000 for Port Stormwater project. Funding from Port of Olympia.
3) Appropriation of $589,403 for various economic development projects. Funded by Insurance Proceeds from Soil Remediation.
4) Appropriation of $5,000 to pay for cleaning the tiles on the 4th Ave Bridge Project #1578G. Funding from the Municipal Arts Fund.
Neighborhood/Community Interests (if known):
None known
Options:
1) Approve ordinance amending ordinance 7086.
2) Do not approve the amending ordinance.
Financial Impact:
Total increase in appropriations $804,403. The sources of funding of these...
Click here for full text